XRPBTC Bullish Divergence and Daily Trend Change!

5 ต.ค. 2019

Hello Traders!

Welcome to another update, today’s chart will be on XRPBTC pairings recent developments which look quite bullish. This could potential be a daily trend change in accordance with a bullish divergence…

Points to consider
- Clear bullish divergence
- Macro trend change
- Resistance at .236 Fibonacci Level
- Stochastics showing upwards projection
- RSI respecting upwards trend
- Volume below average
- VPVR showing decreasing transactions
- EMA’s providing support

XRP will be very bullish if this local resistance gets broken, this will mean that the daily trend has changed putting in a new higher high.
We have a clear bullish divergence that is coming to fruition; the price is putting in lower lows whilst the RSI is putting in higher lows.

Support is currently being provided by the EMA’s which is bullish as price comes into testing local resistance. This resistance is in confluence with the .236 Fibonacci level, thus proving its significance. Price has tested this level multiple times; a break needs to be followed by strong bull volume to avoid the probability of being a false breakout.

The VPVR is worth analysing, it is showing a decrease in the level of transactions between the segments of local resistance and structural resistance. Price will be probable to reach structural resistance upon break due to the low volume of transactions…

The stochastics is currently in the upper region, it can stay up in this region for an extended period of time as it has not shown any signs of projecting a downwards momentum.

Overall IMO a break of local resistance will be very bullish for XRP, as this will change the macro structure of the trend…

This will be a very good opportunity to go long on XRP!

What are your thoughts? Will XRP break resistance allowing the bullish divergence to come to fruition?

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And remember,

The market can stay irrational longer than you can stay solvent. - John Maynard Keynes